Thursday August 16 2018
News Source: Global Exchanges
Focus: Listing Rules
Type: General
Country: Hong Kong
Link: http://www.hkex.com.hk/News/News-Release/2018/180810news?sc_lang=en
The Stock Exchange of Hong Kong (HKEX) is seeking feedback on proposed changes to the structure of Listing Committee decisions. The Exchange’s aim in this consultation is to enhance governance within the Exchange’s structure for reviewing the Listing Committee’s (LC) decisions and to promote transparency, accountability and consistency in decision making.
The Exchange’s proposals can be summarised as follows:
Revise the current two-level review structure for decisions of material significance made by the LC so that those decisions will be subject to only one level of review. Decisions of material significance refer to (i) rejection of a new applicant’s listing application solely on the ground of unsuitability for listing; (ii) cancellation of listing; and (iii) imposition of certain disciplinary sanctions.
The deadline for submissions will be on 12 October 2018. Please click here for both the Consultation paper and questionnaire which have now been posted on the HKEX website.
For additional information please click the link above.